Rackla Metals (CVE:RAK) Trading 12.5% Higher – Here’s What Happened

Rackla Metals Inc. (CVE:RAK) was up 12.5% during mid-day trading on Wednesday . The company traded as high as C$0.09 and last traded at C$0.09. Approximately 970,000 shares changed hands during mid-day trading, an increase of 203% from the average daily volume of 319,883 shares. The stock had previously closed at C$0.08.

Rackla Metals Trading Up 12.5 %

The stock’s fifty day simple moving average is C$0.11 and its 200-day simple moving average is C$0.10. The firm has a market cap of C$8.78 million, a PE ratio of -1.29 and a beta of 1.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.57 and a quick ratio of 6.93.

Insider Buying and Selling

In other news, Director Simon T.P. Ridgway purchased 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were bought at an average price of C$0.10 per share, for a total transaction of C$30,000.00. Insiders acquired a total of 1,393,500 shares of company stock valued at $146,630 over the last 90 days. Insiders own 13.48% of the company’s stock.

Rackla Metals Company Profile

Rackla Metals Inc, a junior gold exploration company, engages in the acquisition, exploration, and evaluation of mineral properties in Canada. The company holds a 100% interest in the Rivier property located in the Watson Lake Mining District, Yukon. It also holds interests in the Tombstone Gold Belt projects situated in Yukon and Northwest Territories.